Iran mulls France-Russia-China mine investment plan

TEHRAN, Oct. 12 (MNA) – Iranian Deputy Trade Minister Mehdi Karbasian on Mon. announced a special plan proposed by France, Russia and China for investing in Iranian mines.Iranian Deputy Industries, Mines and Trade Minister Mehdi Karbasian told Mehr News correspondent that a special investment package has been drawn up from Italian, French, Russian and Chinese companies which wish to participate in Iran’s mines and mining industries.

“The Italians intend to take part in Iran’s steel projects while the French, Russians and Chinese are planning to fund the country’s mine projects in various sectors and have drawn up a number of investment packages for this purpose,” said Karbasian.

The Iranian official said that Iran-China mining cooperation has undergone a change in approach, adding “as of now, Chinese companies have come to the conclusion that they should invest in Iran directly if they want to stay in the competition.”

According to Karbasian, the head of the Management and Planning Organization has recently announced it would allocate $66,760,000 subsidy to the production sector which would then make plans to use some of this amount in developing mines, explorations and renovation of the mining industry.

By Mehr News Agency